SABIC is supporting the Government of Saudi Arabia's participation in the GCC delegation to the UN's Conference of Parties 22 (COP22) in Marrakesh, Morocco, from Nov. 7 to 18, by showcasing a large portfolio of initiatives that are spurring sustainable development throughout the company's value chain. The KSA delegation, headed by Khalid Al-Falih, minister of energy, industry, and mineral resources, will join hundreds of other public and private representatives from all over the world to follow up COP21, also known as the Paris Climate Conference, where an agreement was reached to limit greenhouse gas emissions. [caption id="attachment_97756" align="alignright" width="300"] SABIC boosts UN meet with sustainable initiatives [/caption] "SABIC aims to lead on sustainability in Saudi Arabia and the GCC, and this global conference is an important venue for us to demonstrate our initiatives that support this aim," said Yousef Al-Benyan, SABIC Vice Chairman and CEO. "Recognizing international concerns about climate change, we have invested in initiatives that not only reduce our emissions intensity, but also pass on sustainability benefits to our customers and the public. "At SABIC, we call this ‘Chemistry that Matters to the environment and future generations." SABIC's sustainable initiatives include the Home of Innovation, a project to foster downstream development through collaboration and innovation. The facility includes a demonstration house, which is designed to achieve net-zero energy in the demanding climatic conditions of Saudi Arabia. SABIC achieved this by integrating its innovative solutions throughout the house in collaboration with industry-leading partners. Al-Benyan said, "The home has over 200 advanced systems, materials, and products, including many that reduce energy and water use. If all homes in Saudi Arabia were as efficient as the demonstration house it would reduce CO2 emissions by the equivalent of six coal-fired power plants." SABIC has invested in the world's largest CO2 capture and utilization plant at its manufacturing affiliate United in Jubail. The plant is designed to utilize up to 500,000 tons of CO2 annually — capturing the gas from the production of ethylene glycol, before purifying and distributing it to a network of affiliates to produce valuable products such as fertilizers. The project reduces emissions while increasing efficiency and lowering costs. Also featuring prominently at the conference are some of SABIC's 68 qualified sustainability solutions, which create less CO2 emissions than traditional materials during production or save more save more in other lifecycle phases. They include a wide range of solutions for use in transportation, construction, medical devices, electrical and electronics, clean energy, packaging, and agri-nutrients that pass suitability benefits to customers by enabling them to create lighter, stronger, thinner, more-durable, better-insulated, or easier-to-manufacture products. SABIC's manufacturing operations utilize 3.3 million tons of CO2 annually. The company is on target to meet ambitious targets to reduce green-house gas, energy, and water intensities by 25 percent, and material loss intensity by 50 percent by 2025 — from levels in 2010. Al-Benyan said: "Embedding sustainable practices in our global operations has resulted in energy savings, improved resource efficiency, technological innovation and cost savings. Sustainability is helping SABIC to emerge as a global leader in the petrochemicals industry." SABIC is a global leader in diversified chemicals headquartered in Riyadh, Saudi Arabia. SABIC recorded a net profit of SR18.77 billion ($5 billion) in 2015. Sales revenues for 2015 totaled SR148.09 billion ($39.49 billion). Total assets stood at SR328.22 billion ($87.53 billion) at the end of 2015. SABIC has more than 40,000 employees worldwide and operates in more than 50 countries. Fostering innovation and a spirit of ingenuity, it has 10,908 global patent filings, and have significant research resources with innovation hubs in five key geographies – USA, Europe, Middle East, South East Asia and North East Asia. The Saudi Arabian government owns 70 percent of SABIC shares with the remaining 30 percent publicly traded on the Saudi stock exchange.
